IPHI stock was up 24.8% as of Thursday morning. For comparison, Wall Street was looking for an adjusted EPS of 85 cents on revenue of $180.73 million. The company reported adjusted earnings per share of 88 cents on revenue of $180.69 million. The Inphi news comes alongside its earnings report for the third quarter of 2020. In recent trading, shares of Inphi Corp (NYSE: IPHI) have crossed above the average analyst 12-month target price of 38.25, changing hands for 42.25/share. Combining with Marvell significantly increases our scale, accelerates our access to the next generations of process technology, and opens up new opportunities in 5G connectivity.” “Marvell and Inphi share a vision to enable the world’s data infrastructure and we have both transformed our respective businesses to benefit from the strong secular growth expected in the cloud data center and 5G wireless markets. In comparison, the S&P 500 has only moved -10.82 and 0, respectively. Tamer had the following to say about the Inphi and Marvell Technology news. Shares of Inphi have increased 28.28 over the past quarter, and have gained 123.81 in the last year. The deal is expected to close in the second half of 2021. semiconductor company with a value of $40 billion. Inphi trades on the New York Stock Exchange (NYSE) under the ticker symbol 'IPHI.
The company will also be reorganized to create a U.S. Most recently he sold 9,845 units of IPHI stock worth 793,015 on 11 August 2022. Nicholas has made over 29 trades of the Inphi Corp stock since 2003, according to the Form 4 filled with the SEC. That also represents a 42.2% premium over the closing price of IPHI stock at yesterday’s close.Īccording to the news release, the deal will see current Inphi president and CEO Ford Tamer joining Marvell Technology’s Board of Directors once the deal is complete. Brathwaite IPHI stock SEC Form 4 insiders trading. It translates to $157.83 per share based on a closing price of $39.53 per share for MRVL stock on Wednesday. That offer from Marvell Technology has it valuing Inphi’s stock at a pretty premium. This has it setting a price of $66 per share and 2.323 shares of MRVL stock for each share of IPHI stock. Source: Sundry Photography / Ī new release reveals that Marvell Technology is planning to acquire Inphi with a mix of cash and stock.
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